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1.
a)
b)
c)
d)
2.
a)
Tax Benefit
b)
Death
c)
Maturity Benefits
d)
3.
a)
b)
c)
d)
4.
A) The sum assured under group insurance is not fixed by the individual
member.
B) A person whose proposal is declined under individual scheme can get insurance
under group policy.
a)
Statement A is correct
b)
Statement B is correct
c)
d)
5.
a)
Surrendered Policies
b)
Discounted policies
c)
Paid-up policies
d)
6.
Statement A is correct
b)
Statement B is correct
c)
d)
7.
B) A joint life declaration is not necessary to create a joint interest in the policy.
a)
Statement A is incorrect
b)
Statement B is correct
c)
d)
8.
Statement A is correct
b)
Statement B is correct
c)
d)
9.
a)
Vesting period
b)
c)
Deferment period
d)
Term
10.
a)
b)
5,10,15 years
c)
d)
5,10,15,20,25 years
11.
a)
Monthly
b)
Quarterly
c)
Half-Yearly
d)
Yearly
e)
12.
b)
c)
d)
13.
Statement A is correct
b)
Statement B is correct
c)
d)
14.
a)
Limited term
b)
Participatory
c)
Convertible
d)
Deferred Insurance
15.
Statement A is correct
b)
Statement B is correct
c)
d)
16.
a)
A father can take a policy on the life of his son who is 12 years old.
b)
One can take a policy on the life of a friend to whom he has lent money.
17.
a)
Valid
b)
Material
c)
Critical
d)
Important
18.
a)
Non participatory
b)
Money back
c)
Childrens
d)
Whole life
19.
Statement A
b)
Statement B
c)
Both Statements
d)
Neither of Statement
20.
The bonus which attaches to the policy immediately on declaration is called
___________ bonus
a)
Immediate
b)
Reversionary
c)
Technical
d)
Final
21.
Statement A
b)
Statement B
c)
Both Statements
d)
Neither of Statement
22.
A policy which has run for 8 years can be called into question if there is
a__________________
a)
Fraud
b)
Misrepresentation
c)
Mistake
d)
(None of above)
23.
The insurable interest of a mortgagor in the mortgages life is equal to the
amount of
a)
Original loan
b)
c)
Outstanding loan
d)
24.
If the proponent has no insurable interest in the insured the underwriter will
a)
b)
c)
d)
25.
Statement A
b)
Statement B
c)
Both Statements
d)
26.
a)
Decision
b)
Underwriting
c)
Consideration
d)
Acceptance
27.
Reverse of L.I
a)
Loan
b)
S.V.
c)
Annuity
d)
None of above
28.
a)
Misrepresentation
b)
Fraud
c)
Both
d)
Neither of above
29.
What is PLI?
30.
31.
32.
33.
34.
35.
36.
Facts, which reduce the risk, must also be disclosed in insurable proposed.
37.
38.
39.
LALGI
41.
PLI
42.
IRDA
43.
MWPA
44.
D.O.B
45.
HLV
46.
FPR
47.
SSS
48.
LICI
49.
The actuarial aspects, which are taken into account while fixing the premium.
I.
Mortality
II.
Interest Assumption
III.
Office Expenses
Only I
Only II and I
50.
Commercial Contracts are normally subject to principle of utmost good faith.
(T/F)
51.
The premium paid by each person is determined on the assumption that
while it may not be possible beforehand to tell how many persons will suffer but it is
possible to tell who will suffer. (T/F)